Harry’s impression: U.S. bosses abandon shareholder first principle

 


The bosses of 181 of the biggest companies in the United States have signed a letter to change the definition of a corporation’s purpose, dropping the shareholder first principle of making as much money as possible for investors. The letter called for a shift from maximizing investors’ profits to achieving wider customer and community targets, such as care for the environment. It was announced by lobbying group Business Roundtable, which is composed of chief executives such as Jamie Dimon from JPMorgan Chase, Amazon’s Jeff Bezos and Apple’s Tim Cook. The move follows mounting public and political discontent at the increasing gap between rich and poor in the U.S. and the world. 


Add to Bookmark
Text size
Related Articles
Career
January 2024
The President of the Institute on tackling the talent shortage issue, and the significance of the Institute’s role as a statutory sustainability standard setter
January 2024
Digital transformation
January 2024
Key insights from the Institute’s study on the current state of technology adoption by small- and medium-sized practices in Hong Kong
BCG & ESG Awards
January 2024
Key highlights based on the awardees of the Institute’s business awards which celebrate achievements in corporate governance and ESG
January 2024

Advertisement

We use cookies to give you the best experience of our website. By continuing to browse the site, you agree to the use of cookies for analytics and personalized content. To learn more, visit our privacy policy page. View more
Accept All Cookies